Neuberger Berman Group LLC Buys 324,849 Shares of DexCom, Inc. $DXCM

Neuberger Berman Group LLC raised its stake in DexCom, Inc. (NASDAQ:DXCM) by 41.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,105,730 shares of the medical device company’s stock after buying an additional 324,849 shares during the period. Neuberger Berman Group LLC owned about 0.28% of DexCom worth $74,405,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in DXCM. Norges Bank acquired a new position in shares of DexCom in the second quarter worth approximately $453,279,000. Groupama Asset Managment boosted its holdings in DexCom by 79,043.1% in the second quarter. Groupama Asset Managment now owns 4,016,513 shares of the medical device company’s stock valued at $350,601,000 after acquiring an additional 4,011,438 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in DexCom by 106.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,605,687 shares of the medical device company’s stock valued at $576,610,000 after purchasing an additional 3,410,858 shares during the period. Marshall Wace LLP increased its position in DexCom by 260.7% during the 2nd quarter. Marshall Wace LLP now owns 3,822,085 shares of the medical device company’s stock valued at $333,630,000 after purchasing an additional 2,762,504 shares during the period. Finally, Federated Hermes Inc. raised its holdings in DexCom by 82.1% during the 2nd quarter. Federated Hermes Inc. now owns 3,633,139 shares of the medical device company’s stock worth $317,137,000 after purchasing an additional 1,638,407 shares during the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

DexCom Price Performance

DexCom stock opened at $68.10 on Friday. The stock has a market capitalization of $26.21 billion, a price-to-earnings ratio of 32.43, a PEG ratio of 1.37 and a beta of 1.48. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $89.98. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.59 and a current ratio of 1.88. The stock’s 50 day moving average price is $70.69 and its two-hundred day moving average price is $68.93.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, February 12th. The medical device company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.03. DexCom had a net margin of 17.94% and a return on equity of 32.12%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the business posted $0.45 EPS. DexCom’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, equities analysts predict that DexCom, Inc. will post 2.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DXCM. Argus dropped their price target on shares of DexCom from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Weiss Ratings upgraded shares of DexCom from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. Canaccord Genuity Group set a $95.00 target price on shares of DexCom and gave the stock a “buy” rating in a research note on Friday, February 13th. Truist Financial restated a “buy” rating and issued a $80.00 target price (down from $82.00) on shares of DexCom in a report on Tuesday, February 17th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $86.00 price target (up from $84.00) on shares of DexCom in a research report on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.18.

DexCom Profile

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.